GBPCHF Technical Analysis: Weekly Chart

In the weekly charts, GBPCHF is trading in a downward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 1.20482 and the resistance level is at 1.23368

GBPCHF is trading in a downward channel until there is a trend reversal.

GBPCHF Technical Analysis: Daily Chart

In the daily charts, GBPCHF is trading below its previous upward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 1.21228 and the resistance level is at 1.22198

GBPCHF is trading outside and below its previous upward channel.

How to trade GBPCHF this week:

GBPCHF is trading in a downward channel until there is a trend reversal. If there is a further breakdown, the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 1.19842, TAKE PROFIT AT 1.17785 AND STOP LOSS AT 1.21380